HANOI - Vietnam and Australia on Monday signed a memorandum of understanding (MoU) to strengthen cooperation in maximizing the benefits of free trade agreements (FTAs), Vietnam News Agency reported.

Under the MoU, the two sides pledged to support Vietnamese enterprises in taking greater advantage of FTAs, while reflecting a shared commitment to advancing the two countries' comprehensive strategic partnership.

Speaking at the signing ceremony, Australian Ambassador to Vietnam Gillian Bird emphasized that the MoU demonstrates growing long-term strategic trust between the two countries, helping expand market access and foster sustainable growth.

The signing took place during a workshop on developing an ecosystem to support businesses in maximizing FTA benefits, organized by Vietnam's Ministry of Industry and Trade.

According to the ministry, the proposed ecosystem will serve as a comprehensive network connecting various stakeholders across the value chain to enhance competitiveness, encourage public-private collaboration, and optimize gains from FTAs.